40-100 pips aday trading system

This is a discussion on 40-100 pips aday trading system within the First Steps forums, part of the Reception category; Originally Posted by jim123
Hi everyone
To answer all your questions and so i dont repeat my self have a ...

James, if you've taken the trouble to 'repeat yourself' by starting this thread on this site, you can repeat yourself some more here, or not. I'm not hiking over to some other site. Good luck with your system.

James, if you've taken the trouble to 'repeat yourself' by starting this thread on this site, you can repeat yourself some more here, or not. I'm not hiking over to some other site. Good luck with your system.

And if you do go to the trouble of expanding on things here, please post more screenshots & trade explanations than you did over at babypips .

I think screenshots of trades, with a line or 2 of accompanying text, are the best way to gain a good understanding of how something works.

I've put this system on a few charts, and been watching 'live' for an hour or so friday before I was dragged screaming and kicking on a shopping trip by the other half up to the north of the island.

1st thing I have noticed is that running the same chart with 2 different sb's highlights the first problem.

It is; to enter within a pip or two of an IB and a signal from the stoch.
The sb's I used were cmc and IG and where one chart would form a IB, the other chart would not. So dependent on who you used, you would either be in the trade or not. This is short time frame stuff I must add. Sub 10 mins. Seeing as 15 mins is the proposed time frame it may work differently.

Will have to look at it more on monday given the chance, but the signals taken with the trend do look; (at first impression) pretty good.

I've put this system on a few charts, and been watching 'live' for an hour or so friday before I was dragged screaming and kicking on a shopping trip by the other half up to the north of the island.

1st thing I have noticed is that running the same chart with 2 different sb's highlights the first problem.

It is; to enter within a pip or two of an IB and a signal from the stoch.
The sb's I used were cmc and IG and where one chart would form a IB, the other chart would not. So dependent on who you used, you would either be in the trade or not. This is short time frame stuff I must add. Sub 10 mins. Seeing as 15 mins is the proposed time frame it may work differently.

Will have to look at it more on monday given the chance, but the signals taken with the trend do look; (at first impression) pretty good.

Time as ever...

Hi there is normal thats why i suggest use your own broker and we all trade off oanda demo i find them the most accrute charts.also 15/30 mins are the best charts for day trading i find.

had some spare time:
I see what TheBramble was saying with regards to Stochs over/under 80/20 hooks can be messy. however, a couple of times, it picks the top/bottom.
worth further evaluation?

EDIT: the times are between 9:00 and 20:00 because my data-provider times are 2 hours ahead. they equate to 7:00am to 18:00.

EDIT2: even though I would have taken the 80/20 hooks myself.

Attached Thumbnails

__________________
# If the only tool you have is a hammer, you tend to see every problem as a nail - Abraham Maslow
# There are 10 kinds of people in the world; those that understand binary, and those that dont. -Anon
# Ed Seykotas Whipsaw Song http://www.youtube.com/watch?v=LiE1V...Wlxk8&index=10# Defeat is temporary. Giving up makes it permanent. Anon

I would have opened a position at 1430 as it indicates a climb based on the OP's instructions.

Quote:

Originally Posted by hornblower

If you are going to short , you try to enter on the green up bar to maximise your profit

If you are going long, you buy on the first pul back, (red bar )

sorry if I have created any confusion.
shadowninja: I was just showing the IB bars, and the position of the stochs.
I wasnt suggesting the highlighted bars were signals, as the deal is you wait for bar to break by 2 pips.
what you seem to be saying is the IB is a "ready", the "stochs" a "steady", and when the price exceeds the IB by 2 pips its a "go"??

hornblower: I like that idea, but you dont know whether the green/red bar is the only bar that is going to form; it could be start of a sequence of several green/red bars.
but, in principle, I agree the pullback is a good method.

hope you all have a good week. hope its as rampant as it was last week. and as sunny.

__________________
# If the only tool you have is a hammer, you tend to see every problem as a nail - Abraham Maslow
# There are 10 kinds of people in the world; those that understand binary, and those that dont. -Anon
# Ed Seykotas Whipsaw Song http://www.youtube.com/watch?v=LiE1V...Wlxk8&index=10# Defeat is temporary. Giving up makes it permanent. Anon